Santander Mortgage Application Help

pmadvice2808

Hi 

Looking for some clarity with the stages of our Santander mortgage application as it has seems to followed a different course to other experiences read on here recently

Timeline:

 Feb 21 Our Application was submitted with all initial requested documents.  
 Feb 23 Valuation Instructed 
 Feb 28 Valuation Completed 
 Feb 29 Additional Supporting Docs requested and provided same day
 Mar 5 Updated Additional Support Docs requested and provided same day
 Mar 8 Processing team passed to underwriters

Other scenarios it seems valuation takes place after. With the valuation in place and docs accepted by the team is the final stage have a high probability of acceptance and mortgage offer?

kingstreet

Most lenders now instruct valuation on receipt of application. The days of "approved subject to valuation" are pretty much over. Santander UW is currently on three working days, so expect an outcome on Thursday.

pmadvice2808

Thanks - I was expecting potentially tomorrow as they are currently on March 7 so should be on March 8th tomorrow? 

I know they have been running slow but our main question is if all the above is already accepted is the probability of offer high?

kingstreet

You have included weekend days. Referred on Friday 8th means Monday, Tuesday and Wednesday are the three working days with result likely on Thursday.

https://www.santanderforintermediaries.co.uk/submit-and-track-business/our-service-levels/

JustMe18

We had valuation done at the very beginning, initial underwriting passed, credit check and affordability passed, don't want to scare you, ours was declined after 6 weeks, but of course every case is different. if you have a stable case, yours should be fine.

pmadvice2808

@JustMe18 Why did they decline after taking 6 weeks based upon everything else being positive ?

JustMe18

pmadvice2808 said:

@JustMe18 Why did they decline after taking 6 weeks based upon everything else being positive ?

They didn't like returned direct debit in October. But we have now re-applied with same lender after a month and got an offer within a week. 

pmadvice2808

@kingstreet we got a Quick Response Opportunity from the UW working on our and our broker provided information within the 4 hours yesterday. Do you happen to know the SLA they then work to ?

kingstreet

I had one at 4.07 yesterday. I uploaded the requirement within a few minutes and had an email at 4.36 to say application agreed.

DayDreamerandGeneralWaster

I waited 2 months but mine was finally approved after a fair bit of messing about.

pmadvice2808

kingstreet said:

I had one at 4.07 yesterday. I uploaded the requirement within a few minutes and had an email at 4.36 to say application agreed.

@kingstreet I think there was more than one on our side which I'm guessing needs more time to review. It's either that or our broker may have just missed the cut off which means I guess we are bottom of the queue once more. Lets see